Red Rock Resorts (Nasdaq: RRR), a Las Vegas-based casino operator, just flashed a breakout signal to my team of traders.
As my team points out, the stock has been trading in an ascending triangle pattern since early April.
You can see this on the chart as stock price moves between the green and red lines.
You will also notice the stock broke above the red line, signaling a double-digit rally is set to take place.
The good thing about the ascending triangle pattern is that it gives us a specific price target – $42 a share.
That’s 16% above the current share price, meaning you can grab a quick gain in the coming weeks as the price of RRR moves higher.
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